Crude palm oil prices were trading up by 0.50 per cent to Rs 494.40 per 10 kg in futures trade today as traders created fresh positions, supported by pick up in demand at the spot market.
Besides, a firming trend in overseas markets too fuelled the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery this month rose by Rs 2.50, or 0.50 per cent, to Rs 494.40 per 10 kg, in a business turnover of 97 lots.
Similarly, the oil for delivery in July went up by Rs 2.40, or 0.49 per cent, to Rs 486.30 per 10 kg in 31 lots.
Analysts said widening of positions by participants driven by pick-up in demand in the spot market against tight stocks position on restricted supplies from producing regions mainly kept crude palm oil prices higher at futures trade.
Disclaimer: No Business Standard Journalist was involved in creation of this content
